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CBK spares defaulters from unregulated digital lenders

CBK Governor Patrick Njoroge

Central Bank of Kenya has banned unregulated digital and credit only lenders from submitting names of loan defaulters for blacklisting at the Credit Reference Bureaus (CRB).

In a statement, CBK explained that the withdrawal is in response to numerous public complaints about misuse of the Credit Information Sharing System (CIS) by the above-mentioned lenders and particularly poor response to customer response.

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